AFP

Indonesia on Monday launched a new sovereign wealth fund that will aim to manage state assets worth more than $900 billion as President Prabowo Subianto looks to turbo-charge growth in Southeast Asia’s biggest economy.The recently inaugurated leader has pledged to take the archipelago’s annual growth from five to eight percent, ordering billions of dollars worth …

Indonesia launches new multi-billion-dollar sovereign wealth fund Read More »

Asian markets mostly fell Monday following a dour end to last week for Wall Street, where a disappointing round of data added to concerns about the world’s number one economy.The euro started on the front foot after conservatives won a closely watched election in Germany, with leader Friedrich Merz urging the speedy formation of a …

Most Asian markets track Wall St loss; Hong Kong extends gains Read More »

Hong Kong and Singapore are the front-runners in a push by Asian governments to become cryptocurrency hubs as they look to capitalise on the global resurgence of the sector thanks to the support of US President Donald Trump.Bitcoin recently hit a record of close to $110,000 while others have also rallied on the back of …

Hong Kong and Singapore lead Asia’s drive to cash in on crypto boom Read More »

Hong Kong is facing its toughest fiscal test in three decades following a painful run of mammoth deficits, with experts urging the government to make careful cuts as the economy wobbles.The Chinese finance hub last saw a string of deficits after the Asian financial crisis in the late 1990s — but their scale was a …

Well-off Hong Kong daunted by record deficits Read More »

In a drab office in China’s industrial heartland, Andy Xiao frets over the future of his shoe materials business, now straining under sweeping tariffs imposed by Donald Trump.The US president has targeted friend and foe alike since taking office a month ago, notably slapping additional 10 percent duties on products imported from China.The move could …

Trump tariffs shake up China’s factory heartland Read More »

One of China’s leading electric vehicle makers XPeng plans to double the number of countries in which the company operates by the end of this year, its CEO said Saturday.Founded in 2014, XPeng is one of the Chinese firms in the sector with the strongest international ambitions, focusing in particular on cutting-edge technologies and design.”We …

China’s EV maker XPeng eyes doubling global presence by year’s end Read More »

The Cook Islands said Saturday it has struck a five-year agreement with China to cooperate in exploring and researching the Pacific nation’s seabed mineral riches.A copy of the deal — signed during a state visit to China that has been criticised by former colonial ruler New Zealand — showed it covers working together in the …

Cook Islands strikes deal with China on seabed minerals Read More »

In a dark stable under a heaving highway in Indonesia’s capital, trucks rumble past emaciated carriage horses tied to pillars in ramshackle wooden stalls, their ribs protruding.The steeds are used to pull traditional wooden carriages known as delman, once a staple of colonial-era transportation, but fading from view in Jakarta in an era dominated by …

The last carriage horses of Indonesia’s capital endure harsh lives Read More »